The results for the fiscal year 2022 have reached $40.9 billion in total gross gaming revenue, which is a 4.9% gain in FY2021. The results were presented by Chairman E. Sequoyah Simermeyer and Vice Chair Jeannie Hovland who pointed out the sustained momentum of the sector and the opportunities for further growth down the road.

NIGC Outlines Results and Growth of GGR

The NIGC cautioned that no rush conclusions should be drawn when comparing regional results, however. The regulator said that there were many factors that could potentially influence annual performance, including the emergence of new gaming operations, renovations, and expansions of existing businesses, as well as temporary or permanent closures, and so on.

At the same time, the record-setting revenue demonstrates tribal gaming operators’ ability to cope with difficult financial circumstances and continue to build and drive value for their respective communities. Simermeyer explained the continued success of these operations:

Across Indian country, tribes pursue economic sustainability through gaming by relying on the robust regulatory reputation for which Indian gaming is well known and made better when supported by efficient and effective measures.

Hovland was similarly pleased with the results, arguing that 55% of all tribal gaming facilities reported $25 million or less in gross gaming revenue. However, he noted that the success of Indian gaming often has significant benefits for surrounding communities as well. The revenue generated this way gives gaming operators a significant opportunity to improve the quality of live of individual Native people, Hovland concluded.

All But One Regions Post Stronger Results Year-over-Year

Presently, there are 244 federally recognized tribes and they have gaming operations in 29 states. The Sacramento region led the way in terms of the biggest chunk of gross gaming revenue with $11.9 billion generated there in FY2022 from 78 operations. The second largest was the D.C. region which brought in another $9 billion in gross gaming revenue from 41 operations.

Sacramento was the only region to post a small regional contraction in its results, down by 1.4% whereas all others registered a net gain comparing FY2021 to FY2022. Phoenix, which generated $3.7 billion in FY2022 in gross gaming revenue had the biggest gain, up by 15.7%.

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The tribal gaming regulator has said that has flagged what it considers to be multiple offenses committed by the Apache Tribe of Oklahoma dating back to 2013 and that have to do with the annual audits of gaming operations and the Gaming Regulatory Act (IGRA).

The infringements flagged by the regulator, are serious and they criticize the lack of timely and compliant financial statements by the company. The two properties that are tied to the infringements are the Golden Eagle Casino and the Silver Buffalo Casino, a now-closed property.

Apache Tribe in Hot Water with NIGC

NIGC outlined specific breaches had to do with three areas, including the submission of annual audits, the hiring of an independent CPA to conduct independent audits of each casino for each fiscal year, and independent audit and financial statements sent to the regulator within 120 days of the end of a property’s fiscal year.

According to the regulator, which went back and looked all the way back to 2013, some of the audits had been carried out by an unlicensed CPA and were therefore unacceptable. The situation was further outlined by an official press release with a statement from NIGC chairman E. Sequoyah Simermeyer:

NIGC’s technical assistance provided to the Tribe over the past several years to correct these violations and to improve its internal controls and record keeping has not resulted in voluntary compliance. Submitting timely and accurate annual independent audit reports and AUPs is critical to NIGC’s mission to protect the integrity of Indian gaming, and we do not take this enforcement action lightly.

NIGC chairman E. Sequoyah Simermeyer

Massive Fines Are Possible But Not Very Likely

AUPs refer to agreed-upon procedures, or in this case, the obligations that tribal operators and their properties have towards the regulator. NIGC has noted that a normal course of action would be to issue a fine to a property of $57,527 per day for each day of missing reports and audits.

The tribe now has 15 days to respond to the regulator. The regulator logged the case on April 19, which is the date from when the grace period is counted. It’s unlikely however that NIGC will particularly seek to enforce a stiff penalty on the tribe’s properties, and rather seek a course to remedy the records.

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